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Vulcanization
Capital
The wealth, either financial or other assets, used by an individual or business to fund operations and facilitate growth.
Withdrawals
Amounts of money taken out from a business by its owners for personal use.
Revenue Accounts
The financial accounts that track the income generated from a company's normal business operations, such as sales or service charges.
Income Summary
The income summary is a temporary account used during the closing process that contains the sums of all revenues and expenses for the period to calculate the net income or loss.
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